Popular Crypto Analyst Issues Alert for Shiba Inu, Predicts Rallies for Dogecoin and Two Additional Altcoins

The crypto strategist, known for his timely altcoin calls, says traders looking to suddenly turn bullish on the meme token Shiba Inu (SHIB) at current levels should be careful.

Pseudonymous trader Altcoin Sherpa has told his 185,700 Twitter followers that the Shiba Inu may be losing momentum after failing to break through a key resistance level.

SHIB: We are currently lagging behind DOGE. This current 200-day exponential moving average is acting as resistance and the price is retreating. We want to see acceptance before we ask for $0.00014 or more. [prices]

At the time of writing, SHIB is trading at $0.00001352, up more than 8% on the day.

As for fellow meme token Dogecoin (DOGE), Altcoin Sherpa believes there’s still a lot of gas left in the tank of the hugely popular crypto after gaining more than 120% over the past seven days. .

DOGE: Next in my opinion is $0.16. I made this neither long nor short. A short like this is like stepping in front of a speeding train. Wait for the bottom high to come. Missed this but would love to see it.

At the time of writing, Dogecoin is trading at $0.138, up more than 63% over the past 24 hours.

Next on the trader’s watchlist is Ethereum (ETH) rival Avalanche (AVAX). According to Altcoin Sherpa, AVAX could put together a decent rally if Bitcoin (BTC) remains stable.

It could be a bottom in the short to medium term, but we are seeing a modest rally, he said.

Looking at analyst charts, Altcoin Sherpa confirms AVAX is climbing towards its target of $29.11, suggesting a near 60% upside potential from the coin’s current price of $18.22. doing.

The final coin for Trader’s Radar is Injective (INJ), a decentralized exchange protocol that offers a variety of financial instruments, including spot trading and futures. Altcoin Sherpa believes INJ is preparing to finally remove a large level of resistance.

INJ: It’s one of the coins I’ve been eyeing. This overall supply zone is very strong at $2.20. When it comes to dollars, I’m still thinking.”

At the time of writing, INJ is valued at $2.23, up nearly 9% on the day.

Don’t miss a beat subscribe to get encrypted email alerts delivered straight to your inbox

Price action confirmation

Please follow us twitter, Facebook When telegram

Surf The Daily Hodl Mix

Check out the latest news headlines

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should exercise caution before making risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your money transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not endorse the buying or selling of cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/kkssr/WindAwake